IPOs

Consumer and industrial SPAC Rotor Acquisition files for a $200 million IPO

Rotor Acquisition, a blank check company targeting the industrial and consumer sectors, filed on Friday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Rotor Acquisition would command a market value of $250 million.

The company is led by CEO and Director Brian Finn, an Investment Partner at Nyca Partners and the former CEO of Asset Management Finance, and Chairman Stefan Selig, founder and Managing Partner of BridgePark Advisors and former Under Secretary of Commerce for International Trade at the US Department of Commerce. The company plans to leverage its management team's experience and target the industrial and consumer sectors.

Rotor Acquisition was founded in 2020 and plans to list on the NYSE under the symbol ROT.U. The company filed confidentially on October 5, 2020. Credit Suisse is the sole bookrunner on the deal.

The article Consumer and industrial SPAC Rotor Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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